Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Shares definition

What does Shares mean? In company law practice, a share is a unit of a member’s interest in a company, carrying the rights and obligations attached to its class (for example, voting, dividends and return of capital on a winding up). The Companies Act 2006 simply states that a share is a share in a company’s share capital; the Irish Companies Act 2014 adopts a broadly equivalent approach. Usage and effect are consistent across England & Wales, Scotland, Northern Ireland and Ireland. A company’s share capital comprises the number of shares it allots and issues to investors on or after incorporation. Those...

Setting up and running UK employee benefit trusts: settlor and trustee choices, funding, tax and anti-avoidance, corporate approvals, and HMRC notification and Trust Registration Service obligations

Published by a LexisNexis Share Incentives expert

Practice notes

FORTHCOMING CHANGE:

On 11 March 2024, HM Treasury initiated a consultation examining the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692, which impose obligations on various businesses to identify and deter money laundering and terrorist financing. It focused on how the regime operates in practice and how in-scope businesses identify and prevent money laundering and terrorist financing on a day-to-day basis. The government’s reply to that consultation appeared on 17 July 2025, followed on 2 September 2025 by a draft statutory instrument and accompanying policy note. The draft SI proposes a de minimis exemption from the duty to register under the Trust Registration Service where (among other requirements) a trust without a UK tax liability also holds no interest in UK land, holds no assets of material value exceeding £2,000, has not owned property with a cumulative value above £10,000 since establishment, and has income not exceeding £5,000 per year. The exemption will not apply retrospectively and will cover only new trusts created on or after the date it takes effect. Subject to feedback on the draft SI and Parliamentary timetabling, the final instrument is expected to be laid...

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Jeremy Glover (Share Schemes)

Jeremy is a senior incentives lawyer who has over 18 years' experience advising businesses on their employee and executive incentives and share plans. Jeremy's practice focuses on the field of remuneration, executive pay, employee share plans and management buyouts. Jeremy advises a broad range of clients including multinationals, quoted companies, privately owned companies (family, owner-managed businesses, venture capital backed and private equity backed). He also provides specialist expert advice to other professional advisers such as accountants, tax advisers and remuneration consultants for their clients. Jeremy has worked in private practice and in-house and enjoys advising clients using the benefit of both perspectives. Jeremy used to head up the incentives practices at Reed Smith LLP, Stephenson Harwood LLP and the Entrepreneurial Group at EY in London. Jeremy is now a senior consultant to a number of law and accounting firms including Reed Smith LLP, PWT Advice LLP and...

Web page updated on 22/05/2026

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